# Soybeans stabilize on CBOT amid short covering in United States

> Soybean futures on the CBOT ended slightly higher on short covering after weak export demand and forecasts for a large US harvest had pushed prices to multi-year lows. Brazil's Conab trimmed its 2023/24 soybean crop estimate slightly, and corn futures rebounded from near four-year lows.

- Date: 2024-07-12 · published 2024-07-12T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/7100-soybeans-stabilize-on-cbot-amid-short-covering-in-united-states
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Short covering offers only a modest floor while a large US crop outlook and soft exports keep the supply outlook heavy, so feed buyers see little price relief.

## Read by commodity

- SOY: neutral
- CORN: neutral

## Sources

- tridge.com: https://www.tridge.com/news/soybeans-stabilize-on-cbot-amid-short-coveri-sbsvgh

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.